George Albright, like many past short sellers, had a problem when he was eligible to repurchase a home. His past short sale credit was showing up as a foreclosure. This is how he was able to get his credit corrected and buy a new home again. How many past short sellers, or those who may have to short sell, can this help? Simple instructions for past short sellers, real estate agents and lenders!
Homebuyers today are more educated in the housing market than ever before. Not only are they becoming more savvy on how to purchase a home, but their choices in choosing a lender has slightly changed. With all the negative news of larger bank corporations such as Bank of America, JP Morgan Chase, and Wells Fargo, it is not surprising more prospective homebuyers are looking at smaller lending institutions.Click to continue
In 2014, Google Glass will leave the testing roam and become available for consumers everywhere. The wearable tech from the search giant is the first of its kind and building hype as various industries race to use Glass to their advantage. The obvious players are there—social networks, photography, navigation—but real estate is already finding ways to use Glass in revolutionary ways.Click to continue
The increase in real estate sales across the nation has spurred new homebuyers to take a look at buying their first piece of property. Even with rates on the rise, many potential new homebuyers are looking to buy before it’s too late. People assume conforming loans are actually the same as conventional loans. However, this is not the case; conventional loans can be either conforming or non-conforming loans. Let’s take a look at some of the different types of loans and what they mean for you.Click to continue
If social media throws you for a loop, don’t feel bad because more than 50 percent of all business owners still do not work social media into their marketing. In this article, we are going to discuss how to use Twitter and how Tweeting can increase business.
The one thing I love about Twitter is its simplicity and how easy it is to use. So if you are new to social media, Tweeting a wee bit of news is a great way to start out. Below are some suggestions on how to start off Tweeting ...Click to continue
The U.S. Senate joined the House in passing some new changes to the Federal Housing Administration (FHA) to alter the Home Equity Conversion Mortgage program or HECM for short. These new changes may go into effect as early as Oct. 1, 2013.Click to continue
President Obama wants private banks to use depositor and investor funds to write 30-year fixed rate mortgages at affordable rates. He won't admit those goals and others imposed by Congress require the federal government to guarantee mortgages and banks against failure.
Mortgages require banks to borrow short and lend long. They pay depositors and investors interest rates that fluctuate and offer funds to homeowners at fixed rates for the duration of loans.Click to continue
While executing the quality control audit and review of thousands of loans, we have noticed the consistency of some reoccurring problems during the mortgage origination application process, said Tommy A. Duncan, CEO of Quality Mortgage Services (QMS), a provider of mortgage banking and compliance solutions in the industry. The number one compliance problem in the origination and retail side takes place during the initial 1003 Application, Tommy added.Click to continue
It is inevitable, I guess, in light of the recent troubles that have befallen consumers and our economy that some—scholarly types—would, in the search for solutions, and in order to prevent a recurrence, suggest that homeownership itself may be to blame. Recently, the Harvard Joint Center on Housing Studies released a report entitled: Getting on the Right Track: Improving Low-Income and Minority Access to Mortgage Credit. One mortgage industry publication summarized the report’s views on homeownership in this way:Click to continue
In light of making NMP's "40 Most Influential Mortgage Pros Under 40" list again in 2012, I wanted to share a few thoughts on what has influenced me throughout the last several years of crisis in our industry.
It's a toss up deciding what's been harder in recent years: slogging through the mortgage and housing meltdown from 2007 through 2010, or having spotty jumbo product from 2011 to mid-2012.Click to continue